CNA Financial (NYSE: CNA) reported Q4 EPS of $1.23, $0.24 better than the analyst estimate of $0.99.

Fourth Quarter

• Net income was $387 million versus $273 million in the prior year quarter; core income was a record $335 million versus $265 million in the prior year quarter.
• The P&C combined ratio was 93.5% compared with 95.6% in the prior year quarter, including 0.8 points of catastrophe loss impact compared with 2.9 points in the prior year quarter. No change to COVID-19 catastrophe loss estimate.
• The underlying combined ratio was 92.7% compared with 94.9% in the prior year quarter. The underlying loss ratio was 60.5% compared with 60.9% in the prior year quarter and the expense ratio was 32.0% compared with 33.7% in the prior year quarter.
• P&C segments, excluding third party captives, generated gross written premium growth of 15% and net written premium growth of 12% from strong rate of +12% and new business growth of 17%.
• Net investment income of $555 million pretax includes $114 million of income from LPs and common stock compared with $545 million of pretax net investment income which included $69 million of income from LPs and common stock in the prior year quarter.

"CNA produced record core income in the fourth quarter as we continued to leverage the hardening market conditions achieving 12% in rate increases and 12% growth in net written premium as well as improving both our underlying and total combined ratios by over two points. We are well positioned to extend our strong execution in the favorable market conditions that we expect to continue in 2021," said Dino E. Robusto, Chairman & Chief Executive Officer of CNA Financial Corporation.

For earnings history and earnings-related data on CNA Financial (CNA) click here.